The Analytical Overview of the Main Currency Pairs on 2018.01.05

The EUR/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.20143
  • Open: 1.20658
  • % chg. over the last day: -0.07
  • Day's range: 1.20562 – 1.20625
  • 52 wk range: 1.0341 – 1.2069

Yesterday the EUR/USD currency pair strengthened against mixed data on the US labor market and positive data from the Eurozone. At the moment, the EUR/USD quotes are in a sideways trend. The key support and resistance levels are 1.20250 and 1.20750. We recommend opening positions from key levels.

The news feed on 2018.01.05:

  • - Consumer price index in the Eurozone at 12:00 (GMT+2:00);
    - Reports on the labor market in the US at 15:30 (GMT+2:00);
    - The index of business activity in the non-manufacturing sector of the US at 17:00 (GMT+2:00).
EUR/USD

The signals of the indicators are ambiguous. The price has fixed above 50 MA and 200 MA, which indicates bullish sentiment.

The MACD histogram is in the positive zone, but below the signal line, which gives a weak signal to buy EUR/USD.

Stochastic Oscillator is in the oversold zone, the %K line is below the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 1.20250, 1.19400
  • Resistance levels: 1.20750

If the EUR/USD begins to decline and fixes below the support level of 1.20250, we recommend looking for entry points to the market to open short positions. The target movement level is 1.19850-1.19650.

An alternative may be the growth of the EUR/USD quotes to 1.21000-1.21200.

The GBP/USD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.35128
  • Open: 1.35446
  • % chg. over the last day: +0.01
  • Day's range: 1.35467 – 1.35491
  • 52 wk range: 1.1450 – 1.3618

Yesterday, mixed data on the UK economy was published. The GBP/USD quotes rose slightly. At the moment, the technical pattern is ambiguous. The key range is 1.35150-1.35750. Positions must be opened above/below these marks.

Today, the news feed on the UK economy is calm. We recommend you to pay attention to the data on the US labor market.

GBP/USD

The signals of the indicators are ambiguous. The price is crossing 50 MA.

The MACD histogram is in the negative zone and below the signal line, which signals sales of GBP/USD.

Stochastic Oscillator is in the oversold zone, the %K line is below the %D line. There are no signals at the moment.

Trading recommendations
  • Support levels: 1.35150, 1.34400
  • Resistance levels: 1.35750

If the GBP/USD currency pair fixes above the resistance of 1.35750, we recommend considering purchases. The movement is tending potentially to 1.36100-1.36300.

Alternative option. If the quotes begin to fall and fix below the support of 1.35150, it is necessary to look for entry points to the market to open short positions. The target movement level is 1.34750-1.34550.

The USD/CAD currency pair

Technical indicators of the currency pair:
  • Prev Open: 1.25358
  • Open: 1.24851
  • % chg. over the last day: +0.14
  • Day's range: 1.25009 – 1.25080
  • 52 wk range: 1.2059 – 1.3795

Yesterday, the USD/CAD quotes fell due to mixed data on the US economy. At the moment, the technical pattern on the USD/CAD currency pair is ambiguous. Investors expect additional drivers. Local support and resistance levels are 1.24850 and 1.25300, respectively. It is necessary to open positions from key levels.

The news feed on 2018.01.05:

  • - Reports on the labor market in Canada at 15:30 (GMT+2:00);
    - The Ivey Purchasing Managers Index in Canada at 17:00 (GMT+2:00).
USD/CAD

Indicators do not send accurate signals. The price is below 50 MA and 200 MA, which indicates a bearish sentiment.

The MACD histogram is in the negative zone, but above the signal line, which gives a weak signal to sell USD/CAD.

Stochastic Oscillator is in the overbought zone, the %K line is above the %D line. There are no accurate signals at the moment.

Trading recommendations
  • Support levels: 1.24850
  • Resistance levels: 1.25300, 1.26150

If the statistics from Canada turns out to be positive, it is necessary to consider sales. The movement is tending potentially to 1.24500-1.24300.

Alternative option. If the USD/CAD quotes begin to rise, we recommend looking for entry points to the market to open long positions. The target movement level is 1.25900-1.26100.

The USD/JPY currency pair

Technical indicators of the currency pair:
  • Prev Open: 112.466
  • Open: 112.749
  • % chg. over the last day: +0.40
  • Day's range: 113.138 – 113.217
  • 52 wk range: 99.53 – 118.67

Today, during the Asian trading session, the USD/JPY quotes rose. It is not excluded that the currency pair will continue to grow. The key trading range is 112.750-113.300. It is recommended to open positions if the price fixes above/below these marks. It is necessary to pay attention to the reports on the US labor market.

The news feed on economy of Japan is calm.

USD/JPY

The price has fixed above 50 MA and 200 MA.

The MACD histogram is in the positive zone, above the signal line, which gives a strong signal to buy USD/JPY.

Stochastic Oscillator is in the overbought zone, the %K line is crossing the %D line. There are no accurate signals.

Trading recommendations
  • Support levels: 112.750, 112.250
  • Resistance levels: 113.300

If the price continues to rise and fixes above the resistance level of 113.300, we recommend considering purchases of USD/JPY. The movement is tending potentially to 113.700-113.900.

Alternative option. If the price fixes below the support level of 112.750, it is necessary to look for entry points to the market to open short positions. The target movement level is 112.350-112.150.

by JustForex, 2018.01.05

We recommend you to get acquainted with the daily overview of the news feed.

This article reflects a personal opinion and should not be interpreted as an investment advice, and/or offer, and/or a persistent request for carrying out financial transactions, and/or a guarantee, and/or a forecast of future events.

GET FREE ANALYTICS

* required fields